“Since peak demand in 2007, consumption of the commodity everyone loves to hate is down 14 per cent or about 3.0 million barrels a day in the United States.” The internet sure is changing the world. Peter Tertzakian for the Globe and Mail.
Energy efficiency is a big deal too. EIA
Bakken estimates keep getting larger. Is 900 billion barrels OOIP and a recovery factor of 8% possible? Million Dollar Way
Tom Whipple’s Peak Oil Review.
Shell says oil theft costs it 43,000 barrels a day in Nigeria. That’s a nice sized E&P. Globe and Mail
The equity markets are effectively closed to Chesapeake. Now so are the debt markets: “Trading in Chesapeake debt securities was active with bonds maturing in 2020 being quoted around 91.50 cents and 92.50 cents on the dollar.” Reuters Aubrey has been a shrewd seller to this point, and the perception may work against him imo. Bloomberg
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